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Sep. 28, 2015, 7:05 AM
- Kellogg (NYSE:K) acquires Mass Food Group for ~$50M. Mass Food Company is an Egyptian cereal seller with $18M in annual sales.
- The company says it will use its international cash to finance the deal.
- The acquisition follows other investments by Kellogg in Egypt and West Africa earlier this year.
Sep. 25, 2015, 2:04 PM
- Packaged food stocks are ahead of broad market averages for the day. There are some consistent themes playing out in the sector which have increased interest in select names. Topping the list are M&A potential, activist investor action, and good old-fashioned fundamental valuation.
- Gainers: Treehouse Foods (NYSE:THS) +3.1%, B&G Foods (NYSE:BGS) +2.9%, ConAgra Foods (NYSE:CAG) +2.7%, Kellogg (NYSE:K) +2.6%, General Mills (NYSE:GIS) +2.3%, Campbell Soup (NYSE:CPB) +2.3%, J.M. Smucker (NYSE:SJM) +1.6%.
Sep. 15, 2015, 9:41 AM
- Kellogg (K -0.2%) announces it will spend $450M to acquire a 50% stake in African distributor Multipro.
- The company also created a joint venture with Tolaram to develop snacks and breakfast foods to sell in West Africa. A right to acquire a stake in Tolaram Africa Foods is also now held by Kellogg in its back pocket.
- Global cash and an increased in the issuance of commercial paper will be used to finance the investments in Kellogg's business in Africa.
Sep. 11, 2015, 3:38 AM
- Two large suppliers of well-known brands to Wal-Mart (NYSE:WMT) are refusing to accept new terms that the retailer is imposing, Bloomberg reports, and hope to use their size to negotiate a better deal.
- However, many of Wal-Mart's 10,000 suppliers aren't large enough to hold such leverage and are having to put up with new storage fees and a schedule that could put back payments. The terms are designed to cut Wal-Mart's costs, so, it says, it can lower prices for shoppers.
- Wal-Mart is the biggest customer for many packaged-goods providers, including General Mills (NYSE:GIS), Kellogg (NYSE:K) and Hanesbrands (NYSE:HBI), which generate over 20% of their sales from the retailer.
Sep. 1, 2015, 10:41 AM
Aug. 31, 2015, 8:48 AM
Aug. 20, 2015, 3:20 PM
- 3G Capital continues to be a major influence in the food industry as recent job cuts at Kraft and Heinz send a strong message.
- Management at Nestle (OTCPK:NSRGY), Mondelez International (NASDAQ:MDLZ), Kellogg (NYSE:K), and Campbell Soup (NYSE:CPB) are utilizing a "zero-base budgeting" philosophy similar to the efficiency model pushed by 3G, according to Bloomberg.
- Kraft Heinz (NASDAQ:KHC) is expected to cut $1.5B in annual costs before 2018, a disciplined approach likely to be copied by peers.
Aug. 19, 2015, 11:38 AM
- Large food companies need to focus on bold M&A and innovation actions over recharging iconic brands, concludes Rabobank in a new report on the sector.
- A shift in consumer preferences has sparked a need to introduce new brands which are on trend - instead of focusing on "innovation-lite" and product reformulation strategies. Buying promising brands at an earlier stage than normal is seen as a forward-thinking strategy.
- Related stocks: KHC, MDLZ, PEP, KO, OTCPK:NSRGY, OTCPK:NSRGF, WWAV, HAIN, K, GIS, POST, CPB, PF, THS.
Aug. 12, 2015, 12:47 PM
- Corn prices have swung sharply lower after the USDA raised a forecast for corn production off of improved yields.
- The corn crop is seen coming in at 13.686B bushels vs. 13.53B prior forecast and 13.332B consensus estimate.
- Food sellers could see some back-half cost and feed relief if the trend holds.
- Related stocks: GIS, K, POST, KO, PEP, PPC, CPB, TSN, SEB, SJM.
- Related ETF: CORN
- USDA Crop Production report.
Aug. 5, 2015, 7:05 AM
Aug. 4, 2015, 8:21 AM
- Kellogg (NYSE:K) reports sales in the U.S. Morning Foods segment fell 2.2% Y/Y to $742M in Q2
- U.S. Snacks revenue was -1.9% to $835M.
- U.S. Specialty sales -2.2% to $270M.
- Europe segment revenue -15.3% to $650M.
- Operating profit was higher in the Europe and U.S. Snacks segment during the quarter, while the company recorded a loss in the Latin America segment due in part to the Venezuelan business. Consolidated operating profit -12% to $412M.
- SG&A expenses were lower during the quarter.
- Previously: Kellogg EPS in-line, beats on revenue
Aug. 4, 2015, 8:03 AM
- Kellogg (NYSE:K): Q2 EPS of $0.92 in-line.
- Revenue of $3.48B (-5.4% Y/Y) beats by $10M.
Aug. 3, 2015, 5:30 PM
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Jul. 24, 2015, 11:35 AM
- Kellogg (NYSE:K) declares $0.50/share quarterly dividend, 2% increase from prior dividend of $0.49.
- Forward yield 3.1%
- Payable Sept. 15; for shareholders of record Sept. 1; ex-div Aug. 28.
Jun. 17, 2015, 3:26 AM
- Beginning in 2018, companies will have to seek approval before they can put partially hydrogenated oils into foods, after the FDA said the ingredient should no longer be considered safe and laid out far-reaching restrictions.
- While not a ban, the FDA's move marks the first restriction on trans fats at the national level. It first proposed the action in 2013.
- Related tickers: Nestle (OTCPK:NSRGY), PepsiCo (NYSE:PEP), Tyson Foods (NYSE:TSN), Mondelez International (NASDAQ:MDLZ), Unilever (NYSE:UL), General Mills (NYSE:GIS), Kraft Foods (NASDAQ:KRFT), Kellogg (NYSE:K), Dean Foods (NYSE:DF), Campbell Soup (NYSE:CPB), Hormel (NYSE:HRL), Hershey (NYSE:HSY), Pilgrims Pride (NASDAQ:PPC).
Jun. 10, 2015, 8:28 AM
- General Mills (NYSE:GIS) pulls the plug on its Nibblr snack service which was a brainchild of the company's innovation division.
- Nibblr was set up to be a direct-to-consumer snack delivery service.
- The development at General Mills coincides with a report from Bloomberg that Kellogg (NYSE:K) is considering its own snack subscription service
- U.K. firm Graze.com and Harry & David (NASDAQ:FLWS) are both active in the online snack delivery market.
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